127/2013 Sb.
The COMMUNICATION FROM the
The Ministry of finance
of 13 June. may 2013
which determine the conditions for State bond Premium savings
The Czech Republic, 2013-2016, FIX%
The Ministry of Finance (hereinafter referred to as "the Ministry") issued State bonds
to the extent provided for by a special law and determines their conditions
in accordance with the provisions of section 26 of Act No. 190/2004 Coll. on bonds, in
as amended, (hereinafter referred to as the "law on bonds"). These
conditions define the rights and obligations of the issuer and the owners
bonds, as well as information about the bond issue and Premium
saving the State of the bond of the Czech Republic, 2013-2016, FIX% (
also, the "bond", or the "bonds").
1. the basic description of the bonds:
Issuer: Czech Republic-Ministry of finance
Name: Premium savings State bond of the Czech Republic, 2013-2016, FIX
%
Abbreviated name: SSD-P CZECH REPUBLIC, FIX% 16
Serial number issue: 80.
Nominal value: 1 € (in words: one koruna Czech)
Emission rate: 100% (in words: one hundred percent) of the nominal value
Form of a bond: a valuable paper bearer
Form of a bond: zaknihovaný paper
Type of bond: bond
Currency in which the bonds are denominated: Czech koruna (CZK)
Start date of the period for the subscription to the emissions: 13. 5.13
End date for the subscription period emissions: 12. 6.2015
Issue date: 12. 6.2013
Maturity date: 12. 6.2016
The yield of the bond: the specified fixed interest rate laid down for the
the first period
from the 12. 6.2013 to 12. 6.2014
at a rate of 0.50% p. a.
the second period
from the 12. 6.2014 to 12. 6.2015
at a rate of 0.50% p. a.
the third period
from the 12. 6.2015 to 12. 6.2016
of 6.50% p. a.
Taxation of income of the bond: according to the legislation of the Czech Republic
ISIN: CZ0001003982
2. Bonds are within the meaning of the provisions of § 25 paragraph. 2 of the law on
bonds issued on the basis of special laws. Issue of bonds
the Ministry provides.
3. the following bearer Bonds issued in dematerialised form and
are recorded in a separate register, pursuant to the provisions of § 35
paragraph. 1 (a). (d)) of law No 218/2000 Coll., on the budgetary rules and the
changes to some related acts (budgetary rules), as amended by
amended, the Ministry (hereinafter referred to as "the register of the Ministry").
4. Bonds may subscribe only:
and) means a natural person,
(b)) civic association or body, hunting
(c) a trade union or organization) employers
(d)) of the Foundation or Endowment Fund,
e) public benefit corporation,
f) professional Chamber or professional organisations,
(g)), the Board of the legal person, which is not the founder of the Ministry,
County, municipality or municipalities within the meaning of section 124, paragraph. 2 Act No. 561/2004
Coll. on pre-school, primary, secondary, higher vocational and other
Education (the Education Act), as amended,
(h)), Economic Chamber of the Czech Republic or the agrarian Chamber of the Czech
the Republic established by Act No 301/1992 Coll., on the Czech Economic Chamber
Republic and agrarian Chamber of the Czech Republic, as amended
regulations,
I) public high school established in accordance with Act No. 111/1998 Coll., on
universities and amending and supplementing other laws (the law on high
schools), in the wording of later regulations,
j) public research institution established in accordance with Act No. 341/2005 Coll.
public research institutions, as amended by later regulations,
for the Czech television, established by law) no 483/1991 Coll., on the Czech television, in
as amended, Czech Radio, established by Act No. 484/1991
Coll., on the Czech Radio, as amended, or Czech
Press Office, established by law No. 517/1992 Coll., on the Czech press
the Office, in the wording of later regulations,
l General health insurance company) of the Czech Republic established by law No.
551/1991 Coll., on general health insurance company in the Czech Republic, in the
as amended, or departmental, departmental, corporate and other
health insurance company established pursuant to Act No. 280/1992 Coll., on the
departmental, industry, corporate, and other health insurance companies,
in the wording of later regulations,
m) territorial self-governing units and higher territorial self-governing units, Czech
Republic or the capital city of Prague,
n) voluntary townships established by Act No. 128/2000 Coll., on the
municipalities (municipal establishment), as amended,
the Union of towns and municipalities), the Czech Republic, Association of local authorities of the Czech
Republic or the Association of regions of the Czech Republic,
p) community of owners of units within the meaning of Act No. 72/1994 Coll.
adjusting some of the co-ownership to the buildings and some
ownership of the flats and non-residential spaces and added some
laws (the law on the ownership of flats), as amended, or
q) foreign legal person with similar activities as one of the persons
referred to in points (b) to (f))),
(hereinafter also referred to as "underwriter" or the "Underwriters").
5. The Ministry does not intend to apply for admission of the bonds to trading on the
the European regulated market or in a multilateral trading system,
established in a Member State of the European Union. Bond trading on the
referred to the transfer points is out of the question.
6. The estimated total nominal value of the bond issue is 15 000
0000 0000 € (in words: fifteen billion Czech Crowns). Bonds may be
in accordance with the provisions of section 7 of the Act on the bonds issued in smaller or
in a larger volume than the estimated the total nominal
the value of the bond issue. The possible range of magnification of the volume of bond issues
makes 50 0000 0000 0000 € (in words: fifty billion Czech Crowns).
7. the issue of bonds may be issued within the time limits for the emission of subscription
increments (tranches).
8. The bonds will be, with the exception of bonds referred to in section 11 of these emissions
the conditions offered by the issuer to the subscription in the Czech Republic in the form of public
menu. Activities associated with the subscription of bonds secures the
the Ministry and persons for the performance of such activities (a bit early
just the "distributors" or "distributor"). To determine the date the distributors
These emission conditions are Česká spořitelna, a.s., Československá
Commercial Bank, and Komerční banka, a.s. Bonds will be called upon to subscribe
also at selected branches of Česká Pošta, s.p. current list
distributors and individual distribution points shall be published on the
the website of the Ministry.
9. The underwriters mentioned in point 4, the following emission conditions served
the application of the relevant tranche of bonds subscriptions through the Distributor.
One underwriter may subscribe through a subscription request
bonds in a number of pieces of at least 1000 (in words: one thousand). The underwriters
are required when applying for the subscription of the bonds to the Distributor
a trusted way to certify that they belong among the persons referred to in point 4
These emission conditions. The price of the subscription of the bonds means the total
the nominal value of bonds of one Subscriber upisovaných multiplied by
their IPO. An underwriter is obliged to pay the price of subscription
bonds within five working days from the date of termination of the subscription period
the relevant tranche. The moment of payment of the price of the subscription of the bonds to the Subscriber
on the account of the Distributor's request for subscription of bonds becomes binding and
underwriter cannot cancel. From the date of payment of the price of the subscription of bonds to
the date of issue of the relevant tranche bond issue is not this amount shall bear interest.
After the date of termination of the subscription period of the relevant tranche bond issue
You cannot subscribe to the relevant tranche of bonds. In the case of the achievement or
exceeded the projected total nominal value of the bond issue
in accordance with section 6 of these terms and conditions of the emission, the Ministry may decide to
reduction of the number of pieces of upisovaných bonds in accordance with the requests for subscription of bonds
submitted to the end date of the subscription period of the relevant tranche of the issue
bonds. Neuspokojeným or partly uspokojeným investors with returns
they paid the price of the subscription of the bonds, which were subscribed, without undue
delay the non-cash transfer on payment account from which they were
the relevant funds remitted to the account of the Distributor, or on payment
account referred to in the application for subscription of bonds in the case of payment of subscription prices
the bond in cash.
10. the subscription period for the first tranche of the bond issue is terminated as of the date
31.5. 2013, or a date to be determined by the issuer, depending on which date
whichever is the earlier.
11. the issue of additional tranches of the bond issue will take place in the form of reinvestment
revenue bonds issued in previous instalments in accordance with sections 14 and 15 of the
These emission conditions with the exception of the last of the yield of a bond, and the
date of reinvestment of bond proceeds.
12. On the issue of possible further tranche bond issue, with the exception of the
tranches referred to in points 10 and 11 of these emission conditions may decide
the issuer and specify the start date and end date of the subscription period
the next tranche concerned. Notice of any other tranches emissions
the bonds shall be published on the website of the Ministry.
13. The request for conversion of the bonds is served by the Distributor.
The bonds are converted without a cash settlement. The transferability of
bonds in accordance with § 26 paragraph. 6 of the Act on the bonds.
Convert the bonds is only permitted between the persons referred to in point 4
These emission conditions. The person to which the bonds are transferred, is
required when filing a request for conversion of the bonds to the Distributor
credible way, that belongs to the persons referred to in point 4
These emission conditions. Transferability bonds after the date 12. 5.
2016.
14. The yield of a bond (hereinafter referred to as the "yield" or "income") is designed
a fixed interest rate in the amount for each period
determined in accordance with point 1 of these emission conditions. Yields are
reinvested in accordance with point 15 of these emission conditions once a year, and
It's always the date 12. 6. starting in 2014, with the exception of the last yield
who is the owner of the bonds shall be paid together with the repayment of the nominal
the value of the bonds at maturity of the bonds in accordance with section 22 of the
the emission conditions, in the absence of the owner of the application for the reinvestment of bond
the last income and the nominal values of all or the relevant part of it
owned by the bonds of this bond issue (hereinafter referred to as "the application of the
the reinvestment of bond ") in accordance with point 23 of the emission conditions. If
the owner of the bond request for early repayment in accordance with section 20 of these
issue conditions, the amount of relevant income for the period, which
the end of the immediately preceding or is the same as the date of early
repayment, with the nereinvestuje, but is to be paid to the owner of the bonds
in accordance with section 20 of these emission conditions.
15. Reinvestment conditions means that the yield on the securities account owner
the bonds are to the date of reinvestment of proceeds credited to the bonds of the same issue
the total nominal value of bonds, which corresponds to the amount of the proceeds from the
all of the bonds, the owner of the same bond issue after taxes taxes
charge according to the special tax rate deduction for the relevant revenue
the period. If the date of reinvestment proceeds on a day which is not a
a working day, the bonds credited to the securities account
the owner of the bonds, the first following working day. The total amount of
the yield of all bonds of the owner of the same bond issue after tax
taxes levied by deduction according to the special tax rate for the relevant revenue
period, for the purpose of reinvestment of the proceeds shall be rounded down to the whole of the Crown
towards the top. Reinvestment conditions, yield increases the number of pieces of bonds
the owner and the total nominal value of the bond issue. The total amount of
the last of the yield of all bonds of the owner of this bond issue
paid to the owner of the bonds, unless the owner of the bond request
the reinvestment of bond in accordance with point 23 of the emission conditions,
taxation the tax levied by deduction under special tax rates shall be rounded
for pennies. In the case of bond owners, who submits proof of
which follows the residence, and the affidavit of the actual ownership of the
income, cannot be applied to the reduced withholding tax rate under the
special tax rates resulting from the Treaty on the avoidance of double taxation
or from the domestic law on income taxes. If the proof of the above
These documents after the date of reinvestment of the proceeds, the amount of the refund
the tax will be paid by bank transfer to the account of payment, which is
conducted in the territory of the country in the domestic currency and that is registered in the securities account
the owner of the bonds in the records of the Ministry, in accordance with point 22
These emission conditions.
16. The yield referred to in points 14 and 15 of these emission conditions, always received
the person who is the owner of bonds to date, 12. 5. starting in 2014.
The yield for the first period from the date of issue until 12. 6.2014 will receive
the person who is the owner of bonds to date, 12. 5. in 2014.
17. The calculation of the yield and the relative yield takes place on the basis of the actual number of
calendar days in a year and the actual number of days in the relevant výnosovém
period (act/act). Yield period means the competent
period referred to in point 1 of these emission conditions. Relative yield
in the price of the bond counts from the date of issue and shall be calculated as revenue
multiplied by the proportion of the actual number of days from the start date of the relevant
revenue in the period, data calculation of proportional yield and the actual number of
days of the relevant period of revenue growth. The total amount of the proceeds of the proportional
all of the bonds, the owner of this bond issue is for the purpose of calculating the
proportional yield shall be rounded down to pennies.
18. the law on the yield from the bond.
19. the issuer is not entitled to repaying bonds issued before the date of
their maturity, if requests for early repayment of the bond owner
in accordance with section 20 of these emission conditions. The Ministry is authorised to
write the bonds when they are released first on the securities account of the issuer in
the register of the Ministry within the meaning of the provisions of section 15, paragraph. 4 of the law on
bonds and the acquisition of bonds before their maturity date. Custom
bonds acquired by the issuer before the date of maturity do not disappear,
unless the issuer decides otherwise.
20. The owner of the bonds is eligible to apply through the Ministry
the distributor of the repayment of the nominal value of all or part of it
owned by the bonds of this issue of bonds before their maturity date
(hereinafter referred to as "request for early repayment") according to the following
timetable:
+-----------------------------------+-----------------------------------+-----------------------------------+
| The date of the first of a possible submission | The last possible date for submission | Date |
| request for early repayment | request for early repayment early repayment | |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 1.4. 2014 | 30.4. 2014 | 12.6. 2014 |
+-----------------------------------+-----------------------------------+-----------------------------------+
| 1.4. 2015 | 30.4. 2015 | 12.6. 2015 |
+-----------------------------------+-----------------------------------+-----------------------------------+
The nominal value of the bonds and the yield after taxes taxes levied
the crash according to the special tax rate for the period from the start date to the date
their respective revenue period that just precedes or is
the same as the date of early repayment, will be paid to the person,
who is the owner of the bonds on the first working day of
the following after the last possible date of submission of the
the early repayment. Request for early repayment shall owner
the bonds through a Distributor. From the moment of submission of the application for
the early repayment of the bonds cannot be in the number of pieces, in which it was filed
request for early repayment, to convert. One owner of the bonds may
one the date of early repayment through a single application for
early repayment request early repayment of owned
bonds in a number of pieces of at least 1000 (in words: one thousand). In the case of
the number of units owned by the bonds on securities account owner
bonds is less than 1 000 (in words: one thousand), the owner of the
request early repayment of bonds owned bonds in
the number of pieces smaller than 1 000 (in words: one thousand), if requested by
the early repayment of all the pieces owned by the bonds registered in its
securities account in the register of the Ministry. One owner of the bonds may
one date of early repayment request early repayment of 100% of the
(in words: one hundred per cent) owned bonds to a number of pieces of 500 000
(in words: five hundred thousand) including and not more than 50% (fifty percent)
owned bonds over the number of pieces of 500 000 (in words: five hundred
thousand). Bonds early repayment shall expire simultaneously with the law
the owner on the yield. The amounts corresponding to the nominal value of the bonds
the owner and responsible of the proceeds after taxes taxes levied by deduction under
special tax rate will be the owner of the bonds for early repayment
paid by non-cash transfer to the cash account, which is maintained in
territory of the country in the domestic currency and that is registered in the securities account owner
bonds in the register of the Ministry. If the date of early
the repayment on a day which is not a working day, payment will be made
the first following working day without the right to payment of the proceeds for this
deferring payments. Change payment account shall notify the owner of the
bonds the Ministry through the Distributor. The total amount of
the number of units of the relevant income from bonds, in which it was filed
the appropriate request for early repayment, payable to the owner of the bonds
for the period from the start date of the relevant revenue period to date
their respective revenue period after taxation tax charge
the crash according to the special tax rate shall be rounded down to pennies.
21. The bonds will be redeemed at their nominal value at the date of 12. 6.2016,
in the absence of the owner of the bond request for early repayment pursuant to point 20
These emission conditions, or in the absence of the owner of the bond request
the reinvestment of bond referred to in point 23 of these emission conditions. This
the date of the end of interest of the bonds. The issuer within the meaning of § 17 of the Act on
bonds held that the right to repayment of the bonds is a person who is
entitled to exercise the rights associated with the bonds on the date 12. 5. in 2016.
The nominal value of all the bonds will be repaid, along with owner
the payment of the last return to the person who is the owner of bonds to
date 12. 5. in 2016. If the date of repayment of the nominal value of the
bonds and the final yield on a day which is not a working
the date of these payments will be made to the first following working day without
entitlement to payment of the proceeds for the transposition of the payment.
22. the issuer undertakes to ensure the repayment of the nominal value of the
bonds, together with the payment of the last owners of the bonds yield
under these conditions of issue. The repayment of the bond and security
payment of the proceeds involved in central securities depository, a.s.,
The Czech National Bank and the Ministry. The nominal value of the bonds is
repaid along with the payment of the proceeds after tax last tax charge
the crash according to the special tax rate non-cash transfer on payment
the account, which is maintained in the territory of the country in the domestic currency and which is recorded on the
the owner of the securities account in the register of the Ministry of bonds, in the absence of
the owner of the application for the reinvestment of bond a bond referred to in point 23 of these
emission conditions. Change payment account shall notify the owner of the
bonds the Ministry through the Distributor. The total amount of
the last of the yield of all bonds of the owner of this bond issue
paid to the owner of the bonds, after taxation taxes levied by deduction
According to the special tax rate shall be rounded down to pennies.
23. The owner of the bonds shall be entitled to request the reinvestment
the bond request, the Ministry through the distributor of
the reinvestment of the last income and the nominal value of all or part of it
owned by the bonds of this bond issue. In this case, you will not be
the owner of the bonds paid their last return and will not be repaid
the total nominal value or its relevant part of the non-cash
transfer to the account of payment in accordance with section 22 of the emission conditions, but
the owner will be required in the amount of the reinvested in government bonds
designated by the Ministry. The reinvestment of bond request
cannot reinvest the nominal value of bonds-traffic rights
third parties, in particular the law of the lien, or nominal value
the bonds, which is registered in the register of the Ministry of the suspension
exercise of the right of the owner to dispose of bonds. Notice of the date of
You can submit a request for the reinvestment of bond, and the State
bonds, in which the last return and nominal value
bonds to reinvest, is published in advance on the
the website of the Ministry. The owner of the bonds may
through one application for the reinvestment of bond request
the reinvestment of the nominal value of bonds owned by the State
the number of bonds specified by the Ministry of not less than 1 000 (in words:
one thousand) and the reinvestment of the proceeds last only throughout its entirety.
The last of the reinvestment of proceeds and the nominal value of all or
the relevant part of it owned by the owner of the bonds, the bond request
the Ministry reinvested in the bond request through
Distributor. The total amount of the proceeds from the bonds of the owner after tax
taxes levied by deduction according to the special tax rate for the last of the yield
period, for the purpose of reinvestment of the proceeds and the nominal value of the last
the bonds shall be rounded down to the whole of the Crown towards the top. The last day for
submission of applications for the reinvestment of bond is 11. 5. in 2016. In the case of
Bond owners, who have applied for the reinvestment of the last yield
It will be the last of the reinvestována above the yield after taxes taxes levied
the crash according to the special tax rate on the date of reinvestment of the bonds. In
the case of the owners of the bonds, who submits the document from which the stems
the residence, and the affidavit of the actual ownership of income, cannot
be applied a reduced rate of withholding tax in accordance with special rates
the tax resulting from the Treaty on the avoidance of double taxation or of
the domestic law on income taxes. If the proof of the above
These documents after the date of the bonds, so the amount of reinvestment of the reimbursement
the tax will be paid by bank transfer to the account of payment, which is
conducted in the territory of the country in the domestic currency and that is registered in the securities account
the owner of the bonds in the records of the Ministry, in accordance with section 22 of the
emission conditions.
24. On a securities account of the owner of the bonds established by the Ministry in
the register of the Ministry is registered only one payment account for the purposes of
payment of the proceeds, the repayment of the bonds before their maturity date and
the repayment of the nominal value of the bonds, for all State bonds
owner, that are recorded in the register of the Ministry. All payments
referred to in the first sentence be remitted to the payment account logged in
the register of the Ministry of two working days before the date of implementation of the relevant
payments.
25. The valid assessment of financial eligibility (rating) of long-term
on CZK-denominated liabilities at the date of the determination of emission conditions made
by Standard Poor's & is at level AA, by Moody's on
level A1 and by Fitch Ratings to AA-level.
26. The bonds are direct, unconditional obligations of the Czech and nepodřízenými
the Republic, which are on the same level with all the other existing
and future direct, unconditional obligations of the Czech and nepodřízenými
of the Republic.
27. All the rights associated with the bonds in accordance with the provisions of section 42
the Act on the bonds expire on the expiry of 10 years from the day when she could
be applied for the first time.
28. These terms and conditions promulgated by the Ministry in the collection of laws.
Announcements to the public concerning these bonds shall be published on the
the website of the Ministry.
29. The operational order of the records of the Ministry shall be published as amended on
the website of the Ministry and is binding on all owners
bonds and distributors and for all persons involved in the
repayment of the bonds and the payment of security.
30. The Ministry reserves the right to do all the tasks related to the
keeping the Ministry, subscription bonds, early repayment
bonds, the nominal value of the bonds, to reinvestment conditions, entries in the register
the Ministry of information, changes, and other related activities defined
The operating regulations of the register of the Ministry.
31. These conditions can be translated into foreign languages. If there is a
the discrepancy between the different language versions of the emission conditions, will
the Czech version.
Minister:
Ing. K in r.